Penske Automotive Group, Inc. (NYSE:PAG) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,347 shares of the company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Penske Automotive Group were worth $205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. True Wealth Design LLC increased its position in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Penske Automotive Group during the 3rd quarter worth about $94,000. Finally, KBC Group NV increased its position in shares of Penske Automotive Group by 33.5% during the 4th quarter. KBC Group NV now owns 749 shares of the company’s stock worth $114,000 after purchasing an additional 188 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PAG. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Insider Activity

In related news, Director John Barr sold 1,529 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of PAG opened at $148.52 on Wednesday. The stock has a 50-day simple moving average of $163.18 and a 200-day simple moving average of $160.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The stock has a market capitalization of $9.91 billion, a PE ratio of 10.80 and a beta of 1.24. Penske Automotive Group, Inc. has a 1 year low of $142.32 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.